Deep Sight Technology, Inc.

Abstract

The founders of a deep sea technology company must refine their tentative capital structure and founders agreement in response to tax factors. Some parties are conveying partnership assets, others are conveying rights to an invention, another will be primarily providing management talent. All are buying "founders stock." Additional financing, including a public offering, is contemplated. A rewritten version of an earlier case.

Identifies Congress's concerns and objectives in adopting the Accumulated Earnings Tax and the Personal Holding Company Tax. Also describes the provisions' mechanics and some of their practical implications.